Understanding consolidation planning in BPC

7/25/2019 Understanding consolidation planning in BPC

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The "C" in BPC: Understanding Consolidation Functionalityin SAP Business Planning and Consolidation and otherClose-to-Disclose solutions SAP Customers are Using

Elizabeth Milne, SAP



@ElizabethEMilne

In this session

Obtain an overview of leading practices for achieving a faster,

more accurate financial close using financial close and

disclosure management tools from SAP, including:

Automation of workflows, making the assignment of responsibilities and sharing of informationacross finance teams more efficient and timely

Streamlining and simplifying the creation, filing, and publication of financial statements within an

appropriately controlled and auditable environment

Examining new ways to gain greater visibility into your company’s financial results

Automate, centralize, standardize any step in the financial close process



@ElizabethEMilne

Agenda

Barriers and Challenges to a Faster Accurate Close

SAP Enterprise Performance Management

Entity Close

Corporate Close

Reporting and Disclosure

Wrap-Up



Introduction



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The challenge is…

Data – accuracy and predictability

Historical data in multiple systems and

spreadsheets – no central, data store

Process – efficiency and standards

No linkage and enforcement with standardbusiness processes

Consolidation process takes too long and is

error prone

Execution – usability and adaptability

Many consolidation products are difficult to

use and inflexible – designed for power users Too much dependency on IT for business

specific tasks



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Compounded by…

The dynamic regulatory landscape

International Financial ReportingStandards (IFRS)

EU Accounts Modernization Directive

Sarbanes-Oxley Act (SOX)

Industry specific requirements

Requirement for faster reporting

Need for greater accuracy



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How fast do you close?



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Accounting and financial close



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SAP financial close management solutionsEntity close: SAP Financial Closing cockpit



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SAP Financial Closing cockpitPerfect planning, execution, and monitoring of the entity financial close



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The Dow Chemical CompanyA Faster, Less Costly Financial Close Process

The SAP Financial Closing cockpit along with SAP Central Process Scheduling from Redwood allow us

to build the global close schedule with one template and implement that globally throughout Dow.

We really wanted to go to one place to see where we were in our close schedules. The ease and the

flexibility of the financial closing cockpit is actually fantastic.

Sandra Hartman-Holbrook, Finance Manager, The Dow Chemical Company

750+Subsidiaries world-wide

with almost 50,000

employees

Tangible benefitsIncreased efficiency, improved visibility, and reduced costs

1000Financial close

obs each month



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SAP financial close management solutionsEntity close: Peer-to-peer intercompany reconciliation

process



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Account ReconciliationSAP Endorsed Business Solution



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Accounting and Financial Close



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SAP Business Planning and Consolidation*Streamlined planning and a faster, more compliant close



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Data LoadingLeading Practices: Integration and automation (eliminate manual activities)



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ControlsLeading Practice: Automated checking and exception-based reporting



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Group StructuresLeading Practice: Single global system for both local and group



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Currency TranslationLeading Practice: Flexible, fully automated currency translation



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Consolidation ProcessesLeading Practice: Automated calculation and posting of Entries/ Adjustments



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AuditLeading Practice: Complete and easily verifiable audit trail



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Consolidation MonitorLeading Practices: Central monitoring and approval processes



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ReportingLeading Practices: End-user managed consolidated reporting



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Czech Aeroholding Improving Financial Transparency

with SAP Business Planning and Consolidation



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Starter kitsFaster legal compliance – reduce implementation time, effort and risks



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Fast implementationPre-packaged content reduces implementation times

Financial close starter kits available today

Application Starter kit

SAP Business Planning and Consolidation, version

for SAP NetWeaver

IFRS &

US GAAP

SAP Business Planning and Consolidation, version

for the Microsoft platformIFRS

SAP Financial Consolidation IFRS & JGAAP

SAP Disclosure ManagementIFRS &

US GAAP



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Accounting and Financial Close



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Reporting and DisclosureLeading Practice: Reporting capabilities tailored to needs of specific users



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Financial Results Insight on iPad



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The Challenge of Regulatory Disclosures

Lack of automation, visibility, and control



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SAP Disclosure ManagementAddressing the last mile of finance



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Delivering the Goods in Corporate Governance with SAP

Disclosure Management



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Empowering more efficient Finance with SAP

HANA

The Most Modern Platform for Real-Time Financial Excellence

Real-Time Financial

Close

Real-Time

Finance

Operations

Real-Time

TreasuryManagement Real-Time

Compliance

Real-Time

Performance

Management



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SAP HANA Enterprise CloudManaged, Monitor ed and Maintained by SAP & Ecosys tem



Wrap-Up



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Further information



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Social Media



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Evaluate This Session

Provide feedback viathis short survey

bit.ly/ASUG14

Provide event feedbackin the same survey



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Understanding consolidation planning in BPC

Documents

Transcript of Understanding consolidation planning in BPC